European Central Bank

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News about European Central Bank, including commentary and archival articles published in The New York Times.

Chronology of Coverage

Mar. 19, 2015

Demonstrators clash with police in Frankfurt, site of European Central Bank's new headquarters, protesting against austerity programs and capitalism; rally, organized by group Blockupy and German unions, grows to some 400 protesters who set fire to police cars, furniture and trash, leaving 94 officers and more than 200 demonstrators injured. MORE

Mar. 17, 2015

European Central Bank president Mario Draghi, describing eurozone economy as 'steadily recovering,' calls for 'quantum leap' in European integration. MORE

Mar. 10, 2015

Greece will start debt negotiations in Brussels with European Commission, European Central Bank and International Monetary Fund; bailout money is contingent upon structural overhauls of country's economy. MORE

Mar. 10, 2015

European Central Bank starts its long-awaited bond-buying program; 1.1 trillion euro purchase is meant to help eurozone economy. MORE

Mar. 6, 2015

European Central Bank president Mario Draghi says it will start its new stimulus bond-buying program; predicts rosier economy as result. MORE

Feb. 28, 2015

Parliaments of creditor countries approve four-month extension of Greece's bail-out program; Prime Min Alexis Tsipras characterizes move as victory for Greece, though it goes against his promise to end dealings with Greece's three creditors--the International Monetary Fund, European Commission and European Central Bank. MORE

Feb. 26, 2015

German Finance Agency sells 3.28 billion euros, or around $3.72 billion, in five-year notes with average yield of negative 0.08 percent, first time in its history, which signals that investors are prepared to pay Germany for right to hold its debt; milestone comes as European Central Bank is set to begin quantitative easing to stimulate growth in European economies. MORE

Feb. 25, 2015

European Central Bank Pres Mario Draghi unveils new 20-euro bill that features transparent hologram intended to thwart counterfeiters. MORE

Feb. 20, 2015

Account of critical January meeting of European Central Bank shows it had eye on markets with its large-scale asset-purchase program, which included government bonds, in avoiding otherwise unstable and volatile consequences. MORE

Feb. 19, 2015

European Central Bank and its president Mario Draghi may be ultimate arbiters of fate of showdown between European Union and Greece over country's debt; bank's Governing Council must decide whether to help Greek banks stay solvent, decision that could be seen as general verdict on whether country's government can avoid collapse and whether country will remain part of EU. MORE

Feb. 6, 2015

Paul Krugman Op-Ed column compares standoff between Germany and Greece over Greek government's debt to game of chicken, in which both participants threaten one another while barreling toward disaster; says moment is approaching when European Central Bank and Europe must decide whether to cut off Greece, precipitating chaos; offers hope that bank will refuse to make such an enormously risky move. MORE

Feb. 5, 2015

European Central Bank says it will not accept Greek government bonds as collateral for loans due to lack of confidence that country will meet its bailout requirements, indication that bank is taking hard line against newly elected anti-austerity government; decision comes after first meeting between Prime Min Alexis Tsipras and Finance Min Yanis Varoufakis with ECB officials since elections. MORE

Feb. 4, 2015

For all the opposition to debt forgiveness, the notion has resurfaced as the new government in Athens, facing a cash squeeze, looks for ways to reduce what it owes. MORE

Feb. 1, 2015

As depositors yank their savings from Greek banks, the question is being asked if the E.C.B. would bail them out again. MORE

Jan. 30, 2015

European Central Bank's bond buying program, scheduled to start in March, is intended to help eurozone's 18.4 million unemployed residents, but it could have unwelcome consequences; some people, industries and countries will benefit from stimulus more than others. MORE

Jan. 29, 2015

Swiss National Bank's decision to remove cap on Swiss franc in advance of European Central Bank's stimulus has negatively affected many Polish and other Eastern European homeowners who took out mortgages in currency; move disrupted financial markets and has affected many large companies, but its impact on average European underscores how actions by central bankers can unleash unintended consequences. MORE

Jan. 24, 2015

German Chancellor Angela Merkel and other political leaders in country react in restrained manner to European Central Bank's stimulus effort, signal of effectiveness of bank president Mario Draghi's persuasion and willingness to compromise; lack of forceful complaints suggests bond-buying program will not cause as large rift in eurozone as was initially feared. MORE

Jan. 23, 2015

The Upshot; nineteen nations in euro currency union face stronger pressures to lift their economies as European Central Bank stretches limits of its power with 60 billion euro monthly bond-buying program; bank's president Mario Draghi says structural change is required; many countries have been reluctant to spend more, preferring to hew to budget austerity. MORE

Jan. 23, 2015

The Upshot; experts warn European Central Bank's decision to initiate aggressive bond-buying program in eurozone may not provide enough economic stimulus to deliver growth breakthrough and may create unpredicted global ripple effects; greatest uncertainty for Europe is whether the decision to initiate quantitative easing will be enough to arrest slide toward deflation. MORE

Jan. 23, 2015

European Central Bank's move to buy European bonds is not seen as having much effect on American economy; tourists to Europe will see cheaper spending as euro drops against the dollar; investors will also benefit. MORE

Jan. 22, 2015

With a $69 billion-a-month bond-buying program, Mario Draghi, the European Central Bank president, is unleashing the bank’s full money-printing powers. MORE

Jan. 20, 2015

Editorial welcomes preliminary ruling in German court that could end legal challenge and encourage European Central Bank to begin long-deferred bond-buying program; calls on bank president Mario Draghi to deliver on his promise that bank is willing to do anything necessary to alleviate Continent's lingering recession. MORE

Jan. 20, 2015

Denmark lowers interest again to hold down value of krone; move comes ahead of European Central Bank meeting that could further weaken value of euro. MORE

Jan. 17, 2015

Eurobank and Alpha Bank, Greece's third- and fourth-largest banks, request access to some $5 billion in emergency funds from the European Central Bank; move seems aimed to secure money before January elections that have cast doubt on country's ability to fulfill international bailout agreement. MORE

Jan. 15, 2015

European Central Bank faces challenge of how to conduct stimulus in form of quantitative easing after court opinion issued in lawsuit filed by German citizens seeking to block previous bond-buying program paves way for such action; analysts say Mario Draghi, bank's president, must show bank is dedicated to providing stimulus while avoiding political issues like Germany's opposition to any such program. MORE

Jan. 8, 2015

Eurostat reports 0.2 percent drop in consumer prices in eurozone in December 2014 from year earlier; report combined with already worrying trends of high unemployment, weak euro, and Greece's political crisis raises question of whether European Central Bank can head off downward price spiral; situation is unclear due to way lower global prices for crude oil contributed to prices decline. MORE

Jan. 4, 2015

Editorial questions wisdom of European Commission, European Central Bank and International Monetary Fund insisting on absolutist position regarding necessity of austerity measures in Greece; notes that even IMF has acknowledged that such policies have left country with unmanageable debt; warns that no matter what happens in Greek parliamentary election, it is clear voters demand change. MORE

Jan. 2, 2015

Statements by Mario Draghi, president of the European Central Bank, led investors to conclude that the bank would soon buy large quantities of eurobonds. MORE

Jan. 1, 2015

Peter Praet, European Central Bank board member, says current measures to stimulate the eurozone economy may not be adequate; comments heighten expectations that central bank is moving closer to broad-based government bond purchases. MORE

Dec. 12, 2014

European Central Bank is offering second round of cheap loans, but banks show only mild interest, borrowing 130 billion euros, or $161 billion; responses increases likelihood ECB will start asset purchases to put money into weak economy. MORE

Dec. 5, 2014

Mario Draghi, European Central Bank president, says at news conference that bank is determined to honor its prime directive of keeping inflation, now dangerously low, in check; Draghi and central bank have not taken concrete action to address inflation rate that it is near zero, but he offers assurances that more aggressive stimulus is coming. MORE

Dec. 5, 2014

The Upshot; Mario Draghi, president of European Central Bank, faces problem of fighting inflation slump at a time that oil prices are plummeting; how Draghi confronts challenge will help determine outlook for Europe's failing economy. MORE

Nov. 25, 2014

Jens Weidmann, head of Germany's central bank and member of the European Central Bank's rate-setting council, denounces proposals by central bank officials to further stimulate eurozone economy. MORE

Nov. 22, 2014

Mario Draghi, president of European Central Bank, remarks at banking conference in Frankfurt that ECB is planning new round of powerful monetary stimulus to jolt flagging eurozone economy. MORE

Nov. 18, 2014

Mario Draghi, president of European Central Bank, gives slightly more optimistic assessment of eurozone's economy; repeats bank is ready to buy government bonds in order to stimulate economy if measures taken so far prove inadequate. MORE

Nov. 18, 2014

Confidential communications from the central bank show how it has been willing to ignore its own bylaws and dictate policy to sovereign governments to prevent wider financial contagion in the eurozone. MORE

Nov. 18, 2014

Japan's unexpected recession worries other troubled economies, notably Europe, which faces decision on whether to follow Japan's lead by injecting more money into economy; European Central Bank ponders aggressive bond-buying campaign known as quantitative easing. MORE

Nov. 8, 2014

Editorial contends while European Central Bank may be prepared to take additional steps to bolster the eurozone economy, steps it has in mind will not be sufficient to help the millions of unemployed people; holds dire situation requires urgent measures but European officials remain divided and timid. MORE

Nov. 8, 2014

Federal Reserve chairwoman Janet L Yellen praises review of eurozone banks completed by European Central Bank, saying it will help remove doubts about the integrity of the financial system. MORE

Nov. 7, 2014

Newly released documents suggest that Ireland was pressured into controversial 67.5 billion euro bailout that left taxpayers rescuing crippled banks; documents also illustrate European Central Bank's role in determining scope of aid program; disclosure reignites fierce debate about the package. MORE

Nov. 7, 2014

European Central Bank chief Mario Draghi sends strong message that organization is preparing aggressive stimulus measures, raising possibility of large-scale bond purchases; statement seems to soothe markets, but questions remain about how long Draghi can appease investors merely through promises, and whether tactic will be able to reverse worrisome deflationary trend; many economists and policy makers remain frustrated by the ECB's reluctance to truly adopt quantitative easing that has had strong effect in England, Japan and the United States. MORE

Nov. 2, 2014

Monte dei Paschi has until Nov. 10 to satisfy European regulators. MORE

Nov. 2, 2014

Gretchen Morgenson Fair Game column examines troubling findings included in the European Central Bank's long-awaited safety and soundness report; notes that half of sampled banks had inadequate practices for calculating and adjusting their holdings for credit risk associated with derivatives trading partners, only one of a number of alarming lapses in asset valuation. MORE

Nov. 1, 2014

Eurostat reports that consumer prices rose at annual rate of 0.4 percent in 18 nations that share euro currency; separate report shows continuing stagnation in labor market; data adds to pressure on European Central Bank to take additional steps to stimulate the economy. MORE

Oct. 27, 2014

The results of the European Central Bank’s examination of banks show that regulators did a fairly competent job of bolstering Europe’s financial footing, analysts say. MORE

Oct. 26, 2014

The European Central Bank said of the 130 banks it reviewed, only 13 lacked sufficient capital to withstand a severe crisis. But some analysts question the rigor of the exam. MORE

Oct. 25, 2014

Around 25 banks failed European Central Bank's financial tests, although many have already raised capital or made other moves to bolster their books. MORE

Oct. 18, 2014

Floyd Norris Off the Charts column examines why German government and central bank seem to see no reason to do anything to stimulate the economy. MORE

Oct. 17, 2014

Many of largest European countries, including France and Italy, are rebelling against German austerity measures and demanding more radical steps to reverse slumping fortunes; France, Italy and European Central Bank have coalesced into a bloc, pressing Germany to temper its insistence on budgetary discipline and to spend more on public works to stimulate eurozone economy. MORE